Pay day Loan Companies licensed in Michigan

hold on crafts, someone will post the laws momentarily

in the meantime, tell us who you owe, how much you borrowed, how much you have paid back including the fees so that we can help you.

Michigan State Information

Legal Status: Legal

Citation:
Public Act 244 of 2005

Loan Terms:
Maximum Loan Amount: $600
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of first $100, 14% of second $100, 13% of third $100, 12% of fourth $100, 11% of fifth $100, 11% of sixth $100 + any database verification fee
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One with licensee or more than one with any other licensee
Rollovers Permitted: None (cannot renew; lender may extend only if it does not charge a fee)
Cooling-off Period:
Repayment Plan: Yes

Collection Limits:
Collection Fees: One $25 returned check charge
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Michigan Office of Financial and Insurance Services
Address: P.O. Box 30220 Lansing MI 48909
Phone: (877) 999-6442
Fax: (517) 335-4978
http://www.michigan.gov/cis/0,1607,7-154-10555---,00.html

are you loans storefronts or internet PDLs?

Sorry everyone it seems that I have posted to different guestion regarding the same. Please forgive me. This is my first time in the form. I have read several but I thought that it was time that I asked for some help. I will just continue with the other post. Thanks

Crafts that is ok...I will as a moderator to take care of this one since you are going to stick to the other.